QROPS - Qualifying Recognised Overseas Pension Schemes were introduced in 2006 as part of a major overhaul of Britain\'s pension framework, aimed at simplifying pension transfers to another country. New legislation was passed by the UK tax authority, HM Revenue and Customs (HMRC), in order to comply with an EU directive that pensions be free to move across Europe\'s borders. This ruling means that individuals, wishing to retire to countries such as France, Spain and Portugal can effectively take their UK pension funds with them: http://www.axis-finance.com/what-are-qrops.php
Who can apply for a QROPS?
A QROPS is specifically designed to allow anyone, not intending to retire in the UK, to transfer existing and frozen UK pension plans into a more appropriate retirement vehicle.
Individuals who are, or have been members of a UK registered pension fund and are currently living outside of the UK, or intending to leave the UK on a permanent basis, can consider transferring their retirement fund into a QROPS: http://www.axis-finance.com/qrops-living-in-France
Transfers to QROPS
The UK Government allows transfers to QROPS to be made free of UK tax. Their aim is to simplify the affairs of individuals leaving the UK on a permanent basis and to encourage them to continue saving in order to provide an income when they retire. There is no official limit to the amount of funds that may be transferred to a QROPS: http://www.axis-finance.com/qrops-France-pension-transfers
QROPS - HMRC Rules
What makes a scheme a QROPS?
In order to transfer your UK pension into a QROPS, it is necessary for the overseas pension scheme to be accepted by HMRC. The criteria outlined by HMRC for an overseas scheme to qualify as a QROPS include:
- The pension scheme must be established outside of the UK
- It must be recognised for tax purposes in the country where it is located
- It must be regulated in the country in which it is established
Age that benefits can be taken from a QROPS
The QROPS regime mirrors that of a regulated pension scheme in the UK. Benefits, including lump sum payments, from the transferred funds may not be distributed earlier than the normal retirement age of 55, if an individual has been a non-UK resident for less than five complete tax years: http://www.axis-finance.com/qrops-living-in-France-HMRC-Rules
QROPS Reporting requirements
HMRC should be notified if a payment is made within the first five tax years of a member becoming non-UK tax resident. Any benefits paid before five complete tax years of non-UK residency and not in accordance with UK Pension rules will be deemed an unauthorised payment.
The scheme manager does not have to notify HMRC if the payment is made 10 or more years after the day of the transfer that created the QROPS fund for the \'relevant member\', provided that the person is non UK resident for the duration of this period. This 10 year \'bracket\' for reporting payments took effect as of 6 April 2012.
QROPS List
When transferring your UK pension to a scheme overseas, it is important to check that the scheme meets the conditions to be a qualifying recognised overseas pension scheme (QROPS). Not all transfers to overseas or offshore schemes are QROPS transfers; it is therefore essential to verify that the scheme receiving your UK benefits is on the QROPS list published by HMRC, otherwise a transfer will be treated as a transfer to a non-qualifying overseas scheme and substantial penalties may be applied by HMRC at the time of transfer: http://www.axis-finance.com/qrops-list-living-in-France
How do I know if it is a legitimate QROPS scheme?
QROPS approved plans that agree to have their details published are listed on the HMRC website. A UK Pension administrator will confirm a QROPS listing before agreeing to a transfer. If not listed, the administrator will contact HMRC
Employers expect to increase hiring for professional-level positions in the first quarter, but they have concerns about finding qualified candidates for these roles, a new Robert Half survey shows. A net 10 percent of executives interviewed for the Robert Half Professional Employment Report plan to add full-time staff in the first three months of the year, up three points from the fourth-quarter forecast. However, the number of respondents who report recruiting challenges also is on the rise: 67 percent of executives said it is at least somewhat challenging to find skilled employees today, up from 59 percent last quarter and 42 percent in the third quarter.
To view Multimedia News Release, go to http://www.multivu.com/mnr/53176-robert-half-professional-employment-report-q12012
From a child development expert whose pet-centric curriculum is helping rehabilitate troubled adolescents to the founder of New York City’s first cat café, Purina’s third Better With Pets Summit showcased how the relationship between pets and people enhances overall emotional wellness.
The day-long summit, which was hosted by Emmy-nominated comedian and writer, Josh Gondelman, took place at the Brooklyn Expo Center in New York City on Nov. 3 and featured three panel discussions that examined the emotional relationship between pets and people, including the reciprocal effects both have on one another. Keynote speeches were presented by Purina senior research nutritionist Arleigh Reynolds, who has researched the dog and human bond for many years in Alaska and supports of The Frank Attla Youth Program; and author and reality television personality Carole Radziwill, who shared how pet ownership has shaped her life experiences.
To view the Multimedia News Release, go to http://www.multivu.com/players/English/7655851-purina-better-with-pets-summit/
Featuring a noted cancer researcher, animal behaviorists and a 14-year-old entrepreneur who developed a new product to ease pets’ separation anxiety, Purina’s second Better With Pets Summit emphasized how technology and scientific advances are leading to a brighter future with our pets. The daylong event, Tuesday, in New York City featured 15 expert presentations on scientific, nutritional and behavioral innovations to help better understand why our lives are better with pets.
To view the Multimedia News Release, go to http://www.multivu.com/players/English/7325551-purina-better-with-pets-summit-2014/
Victory doesn't always come in the form of a winning on-field goal or a walk-off home run. Sometimes, victory is just as simple as a phone number after a long night out on the town. This October, sportlifestyle brand, PUMA®, salutes these special competitive moments with the launch of The PUMA Social Club LA, the place for the social games we play off the field with friends, when the sun goes down. Open from October 13th through October 28th in West Hollywood, The PUMA Social Club LA pays homage to the After Hours Athlete – those who enjoy the smell of victory and the agony of defeat, all with a drink in hand, wearing their favorite pair of PUMA Clydes. Has competition ever felt this good?
To view Multimedia News Release, go to http://multivu.prnewswire.com/mnr/puma/46448/
According to the U.S. Census Bureau, more than 34.6 million adults ages 18 and above do not have a high school diploma. In an effort to combat this critical issue, the Ad Council and the Dollar General Literacy Foundation joined today to launch new public service advertisements (PSAs) on behalf of their national GED Achievement campaign. This multimedia campaign is designed to provide high school dropouts the encouragement and information needed to begin the road to a GED diploma.
Recent data shows that students who drop out of high school tend to earn less and have a lower quality of life. Many of them must work multiple jobs just to support their family. Moreover, as of 2009, nearly 30% of adults with household incomes at or below the federal poverty line did not have a high school credential.
To view Multimedia News Release, go to http://www.multivu.com/mnr/55571-ad-council-dollar-general-literacy-foundation-your-ged-pep-talks-psa
Over 80% of Americans want to spend their last days at home, with friends and family. Yet, despite these desires, 75% of Americans will spend their last days in a hospital room. Many people will spend hours each day getting painful and often useless treatments and tests, and be asked to take dozens of debilitating drugs. For many, the cure is worse than the disease. This often has negative and lasting effects on family and friends who are often left with feelings of guilt and regret for years to come.
Hospice Support Fund is a 501(c)(3) non-profit organization dedicated to promoting end of life care at home rather than in a hospital so patients can spend their last days in dignity and peace, pain-free in familiar, comfortable surroundings with friends and family.
To view the multimedia release go to:
http://www.multivu.com/players/English/7785451-hospice-support-fund-end-of-life-care-psa/
Once the chicks are old enough (25 weeks) and start laying eggs, CHI students will begin learning how to care for them- another unique and impressive skill to add to their resume, and Providence Place will begin to sell fresh eggs to anyone who wants to support this new venture on our campus.
ProSight Specialty® Insurance today announced the launch of Music Mends℠, a one-of-a-kind enhancement that’s unique in the traditionally-bound insurance industry. Music Mends is specially designed for touring artists, and is in response to the pain and disruption that terrorism invokes in our modern society. Specifically, the coverage is designed to provide support to touring artists who wish to help mend communities following an act of terrorism that interrupts a live performance. The cost of this enhancement is being borne by ProSight, in a demonstration of unprecedented commitment to artists and performers in the wake of a terrorist attack.
“The idea of Music Mends came to us after we attended a concert together and learned that some of the performers had been impacted by the terrorist attack in Paris at the Bataclan concert hall,” said ProSight Chief Underwriting Officer Bob Bailey, speaking of himself and Joe Beneducci, ProSight’s founder and CEO. “The raw emotion from the band that night was evident, and we knew we needed to do something to help support artists who want to go back and perform for their fans. That’s when the idea for Music Mends was born.”
To view the multimedia release go to:
http://www.multivu.com/players/English/7870251-prosight-launches-music-mends/
Interim clinical results from Project IMPACT: Diabetes, announced today by the American Pharmacists Association (APhA) Foundation, show statistically significant decreases in A1C or blood sugar levels, LDL cholesterol, systolic blood pressure and Body Mass Index (BMI), which are all recognized standards of diabetes care. Participating patients in 25 communities who experienced improved outcomes encompass almost every socioeconomic class, insurance status and ethnicity.
To view Multimedia News Release, go to http://www.multivu.com/mnr/62268-american-pharmacists-association-apha-foundation-project-impact-diabetes
“One of my earliest boxing memories is sitting on the ring apron at the Repton Boxing Club watching my older brothers train. Sitting there, ringside with my Dad, I couldn't wait for it to be my turn. By the time I was old enough to start training I already knew how to hold my hands in the correct position and throw a number of combinations (my brothers had shown me how and I practiced at every opportunity!). I remember my first fight. I was 11 years old. Sitting in the dressing room, there were about 15 other young boxers getting ready too. Everyone was asking each other, who are you fighting, who are you fighting. There was this one big guy sitting in the corner wrapping his hands. Someone asked him, Hey, who are you fighting, Someone called A. Lee he said with a shrug. That's when I knew I was in for a rough night! As I stood in the corridor before my ring entrance, my stomach was in knots, to say I was nervous would've been an understatement! Walking to the ring, I looked across at my family, the whole clan had turned out to support me. I remember thinking to myself, I don't care how big this guy is I’m not losing this fight! Anyway, to cut a long story short, I won the fight and many more after that.” Visit Andy on MOLI.com
Courtesy of www.andyleeboxing.com
On the one-year anniversary of the earthquake that devastated Haiti, Tide Loads of Hope is releasing a short documentary film that shares stories of Hope, providing a glimpse into the lives of residents and relief workers in Haiti who have tirelessly worked to help rebuild the lives of those who lost so much.
To view Multimedia News Release, go to http://multivu.prnewswire.com/mnr/tide/48047/
